HP Innovation Journal Issue 11: Winter 2018 | Page 8

In just three years, HP reinvented print in ways that few believed were possible. Here’s how we did it and how we lead the way forward. REIMAGINING OUR FUTURE HP Print is the quintessential reinvention story. It illustrates the power of our reinvention mindset, as well as its enormous and endless possibility. It exemplifies how we creatively innovate and why we continue to do so. The reality is that three years ago, no one believed that there was growth in print. The industry said it was a declining category. Others said it was irrelevant. HP saw it differently. We imagined a future where we defined new boundaries for the industry. Where we refocused on HP’s foundation and reignited results for both our employees and investors. Where we delivered the Power of Print to new heights across the globe. And today, because of that vision, alongside our customer-first, partner-first strategy, HP Print is defined by growth and consistent results. YOY GROWTH REVENUE PROFIT UNIT +13% +11% +3% +1% -9% +6% +4% +5% +9% -12% -17% FY18 FY15 FY18 FY15 FY18 LAUNCHING A PRINT RENAISSANCE We envisioned a renaissance. A rekindling of print. We set things in motion by reducing channel inventory by $400 million and taking out $2 billion of total costs. This enabled nimbleness and future sustainability. It also proved that we know how to manage headwinds and execute with rigor. needs. People expect to be surrounded by better design and a consistent, smart experience. As the industry leaders, we met, and continue to meet, these expectations by defining a seamless “OneLife experience”—fitting print into our digital path of life—and enabling users to scan, copy, and print anytime, anywhere. But it was our belief that print has never been more important to our digital lives that set the stage for its reinvention. We saw how work styles and lifestyles—we work from home and live in the office—were changing expectations and This vision was prescient as our renaissance is flourishing. Today, one in five customers depends on their Instant Ink subscription—a number that 6 +7% -4% -8% -10% -15% FY15 SUPPLIES HP Innovation Journal Issue 11 FY15 FY18